Common use of Notice to Tenant Clause in Contracts

Notice to Tenant. After notice is given to Tenant by Lender that (a) the Landlord is in default under the Mortgage, (b) Lender has exercised its right under the assignment of leases and rents executed and delivered by Landlord to Lender in connection with the Mortgage (the “Assignment of Leases”), and has revoked the license granted to Landlord to collect rentals and monies due under the Lease, and (c) the rentals under the Lease should be paid to Lender pursuant to the terms of the Assignment of Leases, Tenant shall thereafter pay to Lender or as directed by the Lender, all rentals and all other monies due or to become due to Landlord under the Lease and Landlord hereby expressly authorizes Tenant to make such payments to Lender and hereby releases and discharges Tenant from any liability to Landlord on account of any such payments.

Appears in 4 contracts

Samples: Lease Agreement, Lease (Capella Education Co), Lease Agreement (Capella Education Co)

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Notice to Tenant. Tenant acknowledges that it has notice that Landlord’s interest under the Lease and the rent and all other sums due thereunder have been assigned to Lender, pursuant to an assignment of leases and rents, as part of the security for the obligations secured by the Security Instrument and such assignment. After notice is given to Tenant and Landlord by Lender that (a) the Landlord is in default under the Mortgage, (b) Lender has exercised its right under Note or the assignment of leases Security Instrument and rents executed and delivered by Landlord to Lender in connection with the Mortgage (the “Assignment of Leases”), and has revoked the license granted to Landlord to collect rentals and monies due under the Lease, and (c) that the rentals under the Lease should be paid to Lender pursuant to the terms of the Assignment assignment of Leasesleases and rents executed and delivered by Landlord to Lender in connection therewith or as provided pursuant to the Lockbox Agreement between Landlord and Lender, Tenant shall thereafter pay to Lender Lender, or as directed by the Lender, all rentals rents and all other monies due or to become due to Landlord under the Lease until further notice from Lender, and Landlord hereby expressly authorizes Tenant to make such payments to Lender and hereby releases and discharges Tenant agrees that Tenant’s compliance with such notice from any liability to Landlord on account Lender shall not be deemed a violation of any such paymentsthe Lease.

Appears in 1 contract

Samples: Lease Agreement (Deciphera Pharmaceuticals, Inc.)

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Notice to Tenant. After notice is given to Tenant by Lender Administrative Agent that (a) the Landlord is in default under the Mortgage, (b) Lender Administrative Agent has exercised its right under the assignment of leases and rents executed and delivered by Landlord to Lender Administrative Agent in connection with the Mortgage (the “Assignment of Leases”), and has revoked the license granted to Landlord to collect rentals and monies due under the Lease, and (c) the rentals under the Lease should be paid to Lender Administrative Agent pursuant to the terms of the Assignment of Leases, Tenant shall thereafter pay to Lender Administrative Agent or as directed by the LenderAdministrative Agent, all rentals and all other monies due or to become due to Landlord under the Lease and Landlord hereby expressly authorizes Tenant to make such payments to Lender Administrative Agent and hereby releases and discharges Tenant from any liability to Landlord on account of any such payments.

Appears in 1 contract

Samples: Lease (Capella Education Co)

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